Grid Dynamics’ (GDYN) Buy Rating Reaffirmed at Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of Grid Dynamics (NASDAQ:GDYN) in a report published on Thursday,Benzinga reports. The brokerage currently has a $15.00 price target on the stock.

Several other equities research analysts have also commented on GDYN. Jefferies Financial Group assumed coverage on Grid Dynamics in a research note on Monday. They set a “buy” rating and a $11.00 price objective for the company. JPMorgan Chase & Co. cut their price objective on Grid Dynamics from $13.00 to $11.00 and set an “overweight” rating for the company in a research note on Wednesday, August 20th. Finally, Wall Street Zen lowered Grid Dynamics from a “buy” rating to a “hold” rating in a research note on Sunday, July 20th. Five analysts have rated the stock with a Buy rating, According to MarketBeat, Grid Dynamics presently has a consensus rating of “Buy” and a consensus price target of $14.80.

Grid Dynamics Trading Down 1.8%

NASDAQ GDYN opened at $8.00 on Thursday. The stock has a market capitalization of $677.36 million, a price-to-earnings ratio of 42.11 and a beta of 1.03. Grid Dynamics has a twelve month low of $7.37 and a twelve month high of $25.50. The stock has a 50-day moving average of $8.37 and a 200 day moving average of $11.71.

Grid Dynamics (NASDAQ:GDYN) last released its quarterly earnings results on Thursday, July 31st. The company reported $0.10 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.10. The company had revenue of $101.10 million during the quarter, compared to analysts’ expectations of $100.45 million. Grid Dynamics had a return on equity of 1.89% and a net margin of 4.37%.Grid Dynamics’s quarterly revenue was up 21.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.08 EPS. Grid Dynamics has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. Equities analysts predict that Grid Dynamics will post 0.18 EPS for the current fiscal year.

Institutional Investors Weigh In On Grid Dynamics

Large investors have recently made changes to their positions in the stock. New York State Teachers Retirement System grew its position in shares of Grid Dynamics by 35.1% in the first quarter. New York State Teachers Retirement System now owns 17,903 shares of the company’s stock valued at $280,000 after purchasing an additional 4,656 shares in the last quarter. Goldman Sachs Group Inc. grew its position in shares of Grid Dynamics by 12.4% in the first quarter. Goldman Sachs Group Inc. now owns 319,186 shares of the company’s stock valued at $4,995,000 after purchasing an additional 35,204 shares in the last quarter. Axiom Investors LLC DE acquired a new position in Grid Dynamics in the first quarter valued at approximately $3,876,000. Illinois Municipal Retirement Fund acquired a new position in Grid Dynamics in the first quarter valued at approximately $546,000. Finally, SG Americas Securities LLC lifted its holdings in Grid Dynamics by 426.8% in the first quarter. SG Americas Securities LLC now owns 57,363 shares of the company’s stock valued at $898,000 after acquiring an additional 46,475 shares during the last quarter. 71.18% of the stock is currently owned by hedge funds and other institutional investors.

Grid Dynamics Company Profile

Grid Dynamics Holdings, Inc, together with its subsidiaries, provides technology consulting, platform and product engineering, and analytics services in North America, Europe, and internationally. It offers cloud platform and product engineering services, such as architecting, designing, and building scalable and secure cloud-based platforms and business applications; and AI/machine learning and data platform engineering services that build platforms to facilitate batch and streaming data ingestion, quality governance, orchestration, semantic modeling, observability, and analysis at scale.